OPEC+ have decided to increase their production target by 400,000 barrels per day starting next month. Given the pressure from the United States to increase supply and the absence of new major COVID-19 restrictions, economists were expecting this move. Led by the major OPEC+ country Saudi Arabia and non-OPEC+ leader Russia, the Energy Union is lifting a …
OPEC+ Will Raise Its Output Target from February Read More »
As Libya tightened supplies before the OPEC+ meeting, Monday, oil prices rose in early Asian trading. Meanwhile, COVID-19 continues to spread, and concerns about declining fuel demand have also limited the growth of black liquid. As of 8:59 pm Eastern Time, Brent crude oil futures rose 0.40% to US$78.17, and WTI futures rose 0.55% to US$75.62. Less …
Libya Tightens Oil Supplies, Causing Oil Prices to Go Up Read More »
The surge in Omicron coronavirus variants in Europe and the United States has sparked investors’ concerns. The new restrictions on actions taken to curb its spread may hit fuel demand. At 1330 GMT, Brent crude oil futures fell by US$2.79, or 3.7%, to US$70.73 per barrel, while U.S. West Texas Intermediate (WTI) crude oil futures …
Oil Prices Fell by About $3 on Monday Due to Omicron Surge Read More »
Approximately half of the oil pipeline space in the United States is not in use. This increases competition for oil in high-yield areas such as the Permian Basin in Texas. The total pipeline capacity utilization rate in the United States is about 50%. In contrast, thee numbers were 60% to 70% before the coronavirus pandemic …
Half of The Oil Pipeline Space in The Us Got Empty: Why? Read More »
Gold prices fell in early trading on Tuesday, but as investors waited for the decisions of major central bank meetings, there was little volatility. As of 10:15 pm Eastern Time, gold futures fell slightly by 0.09% to US$1,786.65. The U.S. dollar, usually the opposite of gold, rose slightly on Tuesday. This week, about 20 central …
Gold prices drop on Tuesday, what are investors awaiting? Read More »
Two new studies published by researchers at the University of Illinois at Chicago (UIC) found that taxing sugar-sweetened beverages is an “effective and sustainable” way to curb consumption. According to these studies, soda taxes that beverage companies have been lobbying against for decades can lead to healthier choices. Starting January 1, 2019, Seattle, Washington, will …
Soda taxes might increase to result healthier life Read More »
According to the new government’s forecast, gas station prices have finally started to fall. This trend should accelerate greatly in the upcoming months. The U.S. Energy Information Administration said on Tuesday that the average price of regular gasoline across the country in January might drop to $3.01 per gallon. Natural gas prices are much likely …
The natural gas prices will soon fall below $3 per gallon Read More »
Boosted by the fall in U.S. Treasury yields, gold rose in early Asian trading on Wednesday. Investors are now waiting for the U.S. and China inflation data to be released later this week. As of 9:34 pm Eastern Time, gold futures rose 0.32% to US$1,790.45. Yields on 10-year and 30-year U.S. Treasury bonds fell from …
Gold price increases as U.S. Treasury yields pull back Read More »
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